Snowflake Inc. (NYSE:SNOW) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 277.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 551,894 shares of the company’s stock after acquiring an additional 405,588 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Snowflake worth $80,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at about $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $750,572,000. FMR LLC boosted its stake in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the period. Finally, Groupama Asset Managment raised its position in Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after acquiring an additional 1,999,785 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SNOW shares. Evercore ISI restated a “buy” rating on shares of Snowflake in a research report on Wednesday, June 4th. Cantor Fitzgerald boosted their price objective on shares of Snowflake from $183.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, June 5th. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.81.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 548 shares of Snowflake stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $209.96, for a total transaction of $115,058.08. Following the transaction, the executive vice president now owns 568,617 shares in the company, valued at approximately $119,386,825.32. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $60,090,389.60. This trade represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 900,459 shares of company stock worth $170,184,739 in the last ninety days. Insiders own 6.80% of the company’s stock.

Snowflake Trading Up 0.1%

Shares of SNOW stock opened at $208.49 on Thursday. The firm’s 50-day simple moving average is $173.43 and its 200-day simple moving average is $170.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. The firm has a market cap of $69.61 billion, a P/E ratio of -61.50 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. Snowflake’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Snowflake Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.